Let's take a look at what we have on the chart of Ethereum. On the daily timeframe the Eth is not looking good, below is a very important level of 1733$, the price is going to test it for the 4th time, will it hold this time? If the price continues to decline and squeeze near this level, there is a big chance of a breakdown and a move lower.
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P.S. I personally will open entry if the price will show it according to my strategy. Always make your analysis before a trade